NEW DELHI: Vedanta Group chairman Anil Agarwal exuded confidence on the successful demerger of the group. “It’s all done, we have got the majority of lender approval... by the end of this fiscal year we could have the unit separated into six listed entities of the Vedanta group,” he said. On the steel business, he recently said Vedanta is in advanced negotiations with potential buyers for its steel asset in Jharkhand.
The company is targeting a valuation of $1.2 billion per million tons for its 3.5 million-ton steel plant, leveraging the asset’s strategic location and the significant demand-supply gap in India’s steel market. Regarding the zinc business, Agarwal highlighted the potential for significant growth, stating, “We are the only major producer of zinc in the world... Hindustan Zinc can be a $100 billion company.”